Dick's Sporting Goods' Outlook Disappoints

PITTSBURGH (TheStreet) -- Dick's Sporting Goods(DKS Quote) announced today that its third-quarter profit tripled, but its full-year outlook misses forecasts, sending shares sinking.

During the quarter, the sports retailer earned $18.9 million, or 16 cents a share, compared with $6.2 million, or 5 cents, in the year-ago period. Analysts expected the company to earn 9 cents.

Last year's results included $3.1 million in merger and integration coasts.

Sales increased 7% to $989.8 million from $924.2 million, while same-store sales inched up 1.9%.

The company now expects full-year earnings in the range of $1.04 to $1.09 a share, up from prior forecast in the range of $1.02 to $1.07 a share. But this is still lower than Wall Street's expectations of $1.13 a share.

For the fourth quarter, Dick's anticipates earnings of about 41 cents to 46 cents per share, which is less than the 57 cents-per-share that analysts predict.

This lower-than-expected guidance sent shares tumbling 7.2% to $23.03 in morning trading.

-- Reported by Jeanine Poggi in New York

Follow TheStreet.com on Twitter and become a fan on Facebook.